Houston
Houston Image


Q3 2017 | Houston Retail | Market Report

Houston’s retail market activity slowed during the third quarter but still remains healthy despite a decrease in absorption and a slight uptick in vacancy. In August 2017, Houston faced one of the worst natural disasters in history. Hurricane Harvey, a Category 4 hurricane, slammed the Texas coast and dumped over 50 inches of rain in parts of Houston. The event caused widespread flooding, destroying homes, businesses and infrastructure. The retail sector saw supply chain interruptions which halted distribution logistics for a week or more. Ships carrying consumer goods were delayed due to ports shutting down and local distribution facilities could not get products delivered to consumers. A report by First Data shows that retail spending increased the week before the hurricane, but plummeted 58.7% week-over-week and 43.7% year-over-year in Houston and its surrounding areas at the peak of the hurricane. According to the Department of Commerce, September saw a slight uptick in consumer spending, mostly from purchases of replacement items damaged by Harvey.

Q3 2017 Highlights

 



Simply fill out the form below to download a PDF of the full report.

Expertise

We pride ourselves on building and sharing expertise in order to create success for our clients and our people. Our passion for continuously expanding our knowledge base enables us to take a fresh and imaginative approach to everything we do.

Job Growth & Unemployment (Not Seasonally Adjusted)

UNEMPLOY-
MENT
8/16 8/17
Houston 5.7% 5.2%
Texas 4.9% 4.5%
U.S. 5.1% 4.5%
JOB
GROWTH
ANNUAL CHANGE # OF JOBS ADDED
Houston 1.8% 53.5K
Texas 2.4% 268.3K
U.S. 1.5% 2.1M

Texas